Los Angeles Capital Management LLC Buys Shares of 2,012 Arrow Electronics, Inc. (NYSE:ARW)

Los Angeles Capital Management LLC purchased a new position in Arrow Electronics, Inc. (NYSE:ARW) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,012 shares of the technology company’s stock, valued at approximately $267,000.

Several other institutional investors also recently bought and sold shares of ARW. Janney Montgomery Scott LLC boosted its position in Arrow Electronics by 52.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,057 shares of the technology company’s stock valued at $396,000 after acquiring an additional 1,051 shares in the last quarter. Blair William & Co. IL grew its stake in Arrow Electronics by 5.9% in the first quarter. Blair William & Co. IL now owns 3,217 shares of the technology company’s stock valued at $416,000 after purchasing an additional 178 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Arrow Electronics by 55.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,209 shares of the technology company’s stock worth $1,962,000 after purchasing an additional 5,456 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Arrow Electronics during the first quarter valued at about $682,000. Finally, Covestor Ltd boosted its holdings in shares of Arrow Electronics by 16.9% in the 1st quarter. Covestor Ltd now owns 1,026 shares of the technology company’s stock valued at $133,000 after buying an additional 148 shares in the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARW. Raymond James reduced their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Truist Financial reduced their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on Arrow Electronics from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Arrow Electronics has an average rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Trading Down 0.2 %

NYSE ARW opened at $114.90 on Tuesday. Arrow Electronics, Inc. has a 12-month low of $108.51 and a 12-month high of $137.80. The company has a fifty day simple moving average of $128.61 and a two-hundred day simple moving average of $127.70. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.04 billion, a P/E ratio of 12.82 and a beta of 1.27.

Arrow Electronics (NYSE:ARW) last issued its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.15. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. During the same quarter last year, the business posted $4.14 EPS. On average, analysts forecast that Arrow Electronics, Inc. will post 10.29 earnings per share for the current year.

Arrow Electronics Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.